Initial Optional Termination Date Sample Clauses
The Initial Optional Termination Date clause establishes a specific date before the scheduled end of an agreement when one or both parties may choose to terminate the contract without penalty. Typically, this clause outlines the process for providing notice and any conditions that must be met to exercise this early termination right, such as written notification within a set timeframe. Its core function is to provide flexibility, allowing parties to exit the agreement early if circumstances change, thereby reducing long-term risk and commitment.
Initial Optional Termination Date. The Distribution Date occurring in the month following the month in which the Pool Balance of Pool 1 initially declines to less than 10.00% of the Pool 1 Cut-off Date Balance.
Initial Optional Termination Date. The first Distribution Date on or after which the aggregate Assumed Principal Balance of the Mortgage Loans is less than 10% of the aggregate Assumed Principal Balance thereof as of the Cut-off Date.
Initial Optional Termination Date. The first Distribution Date on which the Pool Balance for Pool 3 is less than or equal to 10.00% of the Pool 3 Cut-off Date Balance.